Arvest Investments Inc. Sells 9,039 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Arvest Investments Inc. trimmed its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,941 shares of the bank’s stock after selling 9,039 shares during the quarter. Arvest Investments Inc.’s holdings in Huntington Bancshares were worth $2,017,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. GSA Capital Partners LLP boosted its stake in shares of Huntington Bancshares by 21.2% in the 3rd quarter. GSA Capital Partners LLP now owns 37,529 shares of the bank’s stock valued at $552,000 after purchasing an additional 6,569 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Huntington Bancshares by 15.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 13,487 shares of the bank’s stock valued at $198,000 after purchasing an additional 1,762 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of Huntington Bancshares by 2.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 41,971 shares of the bank’s stock valued at $617,000 after purchasing an additional 1,136 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Huntington Bancshares by 8.7% in the 3rd quarter. Empowered Funds LLC now owns 24,266 shares of the bank’s stock valued at $357,000 after purchasing an additional 1,946 shares during the last quarter. Finally, Natixis Advisors LLC boosted its stake in shares of Huntington Bancshares by 14.4% in the 3rd quarter. Natixis Advisors LLC now owns 717,229 shares of the bank’s stock valued at $10,543,000 after purchasing an additional 90,195 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $14.97 on Thursday. The firm has a 50-day moving average of $16.28 and a 200-day moving average of $16.12. The company has a market cap of $21.87 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.33 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a one year low of $12.05 and a one year high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the prior year, the company earned $0.27 earnings per share. Equities research analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 4.14%. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Analyst Upgrades and Downgrades

HBAN has been the topic of a number of analyst reports. Baird R W raised shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. The Goldman Sachs Group boosted their target price on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler dropped their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 21st. Truist Financial boosted their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Stephens reiterated an “equal weight” rating and set a $18.50 target price on shares of Huntington Bancshares in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $18.35.

Insider Activity at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the transaction, the chief financial officer now owns 335,538 shares in the company, valued at approximately $4,825,036.44. This represents a 10.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the transaction, the vice president now owns 453,129 shares of the company’s stock, valued at approximately $6,647,402.43. The trade was a 13.23 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.